The German solar PV module manufacturer, which was recently granted the right to self-administration insolvency, has said operations will discontinue on June 30, 2015.
An agreement has been settled to take up to 75 of the remaining 90 employees to a transfer company, while around 15 will stay on to support the board in wrapping up the insolvency proceedings. "Solar-Fabrik AG i.I. does not incur additional costs from this transfer company," it said in a statement released.
Insolvency proceedings have been underway for Solar-Fabrik since the start of February. Although its application for self-administration insolvency was initially rejected, the district court in Freiburg later rescinded this.
At the end of May, meanwhile, the German manufacturer announced it would reduce its workforce by 65. The decision was intended to make the company more attractive to potential investors.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.